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← UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS HOUSING CORPORATION

Form 990 for tax year 2023

Filed by UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS HOUSING CORPORATION.

Totals

Total revenue
$1,463,933
Total expenses
$776,094
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,339,245
Investment income
$110,345
Other revenue
$14,343
Total assets, end of year
$6,367,280
Total liabilities, end of year
$2,476,925
Net assets or fund balances, end of year
$3,890,355
Program services expenses (Part IX)
$776,094
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$776,094

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: STUDENT HOUSING INCOME

    total $1,339,245 · related or exempt $1,339,245

  • 3 · Investment income

    total $110,345 · excluded $110,345

  • 11a · Other revenue: MISCELLANEOUS

    total $14,343 · related or exempt $14,343

  • 11e · Other revenue, total

    $14,343

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $14,456 · program services $14,456

  • 11g · Fees: other

    total $12,267 · program services $12,267

  • 13 · Office expenses

    total $14,767 · program services $14,767

  • 16 · Occupancy

    total $225,534 · program services $225,534

  • 20 · Interest

    total $58,187 · program services $58,187

  • 22 · Depreciation, depletion and amortization

    total $140,092 · program services $140,092

  • 23 · Insurance

    total $53,189 · program services $53,189

  • 24a · Other expenses: PAYROLL REIMBURSEMENT

    total $157,504 · program services $157,504

  • 24b · Other expenses: NON-OPERATING EXPENSE

    total $100,098 · program services $100,098

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,096,292 · end of year $2,472,388

  • 9 · Prepaid expenses and deferred charges

    beginning of year $35,794 · end of year $45,431

  • 10a · Land, buildings and equipment: cost or other basis

    $6,287,075

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,437,614

  • 10c · Land, buildings and equipment, net

    beginning of year $3,706,583 · end of year $3,849,461

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,330 · end of year $15,395

  • 20 · Tax-exempt bond liabilities

    beginning of year $2,818,925 · end of year $2,457,452

  • 25 · Other liabilities

    beginning of year $4,692 · end of year $4,078

  • 27 · Net assets without donor restrictions

    beginning of year $2,088,139 · end of year $2,487,894

  • 28 · Net assets with donor restrictions

    beginning of year $891,583 · end of year $1,402,461

Mission and programs · 2023

Mission

TO SUPPORT AND AID THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS BY PROVIDING MODERN RESIDENCE FACILITIES FOR COLLEGE STUDENTS.

Activities or mission (Part I)

TO PROVIDE PRIVATIZED HOUSING FOR COLLEGE STUDENT ADJACENT TO UNIVERSITY SETTING.

  • PROGRAM HOUSING- TO PROVIDE PRIVATIZED HOUSING FOR COLLEGE STUDENTS ADJACENT TO UNIVERSITY SETTING.

    Expenses $776,094 · Revenue $1,353,588

As filed on the 2023 return.

Listed in Part VII

  • Melanie Nuckols

    TREASURER

    Total calculated
    $58,063
    From this org
    $0
    From related orgs
    $43,266
    Other
    $14,797
    Hours/week
    1 + 40 related

  • Patrick Sims

    VICE PRESIDENT

    Total calculated
    $276,127
    From this org
    $0
    From related orgs
    $212,719
    Other
    $63,408
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,719 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $53,596 related
    Nontaxable benefits
    $0 + $9,812 related
    Filer's total
    $0 + $276,127 related

  • Wendy Emerson

    PRESIDENT

    Total calculated
    $234,672
    From this org
    $0
    From related orgs
    $181,625
    Other
    $53,047
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,625 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $45,338 related
    Nontaxable benefits
    $0 + $7,709 related
    Filer's total
    $0 + $234,672 related

  • David Harrison

    SECRETARY

    Total calculated
    $206,036
    From this org
    $0
    From related orgs
    $173,575
    Other
    $32,461
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,575 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,752 related
    Nontaxable benefits
    $0 + $7,709 related
    Filer's total
    $0 + $206,036 related

  • Laurel Donley

    ASSISTANT SECRETARY/ASSISTANT TREASURER

    Total calculated
    $143,641
    From this org
    $0
    From related orgs
    $115,683
    Other
    $27,958
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202433099349300603

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